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Question 29
Juan invests $5,000 at 11% simple interest for 1 year. How much is in the account at the end of the 1 yea
period?
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Answer 1

There will be $4450 left at the end of the year.

Explanation:

We first take 11% and multiply it by $5,000. We get 550. This means that the account will lose $550. Next, we take our original amount, $5,000, and subtract $550 from it. We will get $4450.